PROJECT OVERVIEW

Cushman & Wakefield | CRESCO Real Estate was responsible for upgrading the space of a local flooring retailer from an industrial setting with low visibility to an upscale retail center driven by foot traffic.

THE CHALLENGE

The client was on a month to month lease due to their existing leased building being on the market for sale. The building was a free standing 20,000 SF showroom and warehouse space which had been sold soon after CRESCO Real Estate was asked to relocate the flooring company. This gave the flooring company three (3) months notice to look for a new space.

Additionally, the new business model for the flooring company was to separate the showroom and warehouse components. Both arms of the business needed to be located within 5 miles of each other for ease of transporting shipments.

THE SOLUTION

The retail space that was to be used for the showroom was determined quickly; however through lengthy negotiations with the ownership of the plaza the client took a larger retail footprint than required in exchange for additional terms and a reduction in the starting base rental rate.

CRESCO Real Estate located suitable warehouse space within 3 miles of the retail center which was in raw condition. Within a week, we had a full executed lease on the warehouse space. The warehouse build out was completed within two (2) months, giving the flooring company plenty of time to relocate their stock of merchandise.

RESULTS ACHIEVED

The client was able to successfully move out of his former location and into separate retail and warehouse facilities with minimal impact on the business.

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